Guidelines for Operations of Business in Bangladesh by Joint Ventures/Consortiums/Associations (JVCA) having foreign partner(s)

FEID Circular No.-02
Joint Ventures/Consortiums/Associations (JVCAs) with foreign partners, particularly in government development projects.
JVCAs must secure permission from the Bangladesh Investment Development Authority (BIDA) and notify the Foreign Exchange Investment Department (FEID) within 30 days, operating strictly within approved scopes and complying with national tax laws, including obtaining TIN/BIN/VAT certificates and submitting regular returns.
Financial transactions must be managed through authorized dealer (AD) banks, and foreign currency accounts funded by international agencies must be closed post-project with proper reporting.
Audited financial statements must adhere to Bangladesh Financial Reporting Standards (BFRS) and Financial Reporting Council (FRC) regulations.
Borrowing requires adherence to the Guidelines for Foreign Exchange Transactions (GFET) and FEID approval for loans from foreign partners.